Advisor OS LLC Decreases Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Advisor OS LLC reduced its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 635 shares of the scientific and technical instruments company’s stock after selling 67 shares during the period. Advisor OS LLC’s holdings in Teledyne Technologies were worth $316,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas purchased a new stake in Teledyne Technologies during the 4th quarter worth about $203,000. American Century Companies Inc. lifted its stake in Teledyne Technologies by 1.0% during the fourth quarter. American Century Companies Inc. now owns 3,195 shares of the scientific and technical instruments company’s stock worth $1,483,000 after purchasing an additional 32 shares during the last quarter. LPL Financial LLC lifted its stake in Teledyne Technologies by 8.5% during the fourth quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company’s stock worth $13,166,000 after purchasing an additional 2,224 shares during the last quarter. Modern Wealth Management LLC purchased a new stake in Teledyne Technologies during the fourth quarter worth approximately $229,000. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Teledyne Technologies by 18.1% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,316 shares of the scientific and technical instruments company’s stock worth $611,000 after buying an additional 202 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $556.00 on Friday. The company has a 50-day simple moving average of $510.59 and a 200-day simple moving average of $494.43. Teledyne Technologies Incorporated has a one year low of $397.78 and a one year high of $570.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.44 and a current ratio of 1.66. The stock has a market capitalization of $26.05 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 2.59 and a beta of 1.04.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 EPS for the quarter, beating the consensus estimate of $5.05 by $0.15. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $4.58 EPS. On average, analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Teledyne Technologies announced that its board has approved a stock buyback program on Wednesday, July 23rd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the scientific and technical instruments company to reacquire up to 7.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently weighed in on TDY shares. UBS Group boosted their price objective on shares of Teledyne Technologies from $585.00 to $630.00 and gave the stock a “buy” rating in a research report on Thursday. TD Securities reissued a “buy” rating and issued a $550.00 price target on shares of Teledyne Technologies in a research report on Thursday, April 24th. Morgan Stanley boosted their price target on shares of Teledyne Technologies from $535.00 to $580.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. Wall Street Zen raised Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Finally, Needham & Company LLC reduced their target price on Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $576.57.

Teledyne Technologies Profile

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.